Retail Sales Jump 1% in November

.S. retail sales jumped 1% in November, the Commerce Department said Wednesday.

he increase, which followed a revised 0.1% decline in October that was smaller than first reported, was well above the 0.2% forecast by economists, Bloomberg reported.

Sales excluding automobiles rose 1.1%, the most since January and well above the 0.3% gain that was forecast, Bloomberg said. The overall 1% gain was the biggest increase since July.

Auto dealers and parts stories rose 0.9% following a 1% gain. Electronics and appliance sales jumped 4.6%, the most since January, while building-material retailers saw a 1.8% gain.

Filling station sales rose 2.3% after falling 5.3% in October.

Purchases at non-store retailers, which include online and catalog sales, rose 1.3% in November, while department store sales were unchanged.

Retail sales account for almost half of all consumer spending, which accounts for about two-thirds of the economy.